The Cagayan Valley’s inflation rate this April 2020 moved at a slower pace of 2.5 percent. Its annual rate in March 2020 was 2.8 percent and in April 2019, 3.3 percent.
Following the behaviour of the region, all provinces also exhibited slower annual gains except for the province of Quirino with an increase in the reported inflation rate at 1.8 percent. Inflation in the province of Batanes which posted highest in April 2019 at 6.0 percent abruptly decreased to as much as -0.6 percent in April 2020.
The decrease in the inflation this month can be noted to the slower annual rates of the following commodities:
- Clothing and footwear, 3.3 percent;
- Housing, water, electricity, gas and other fuels, 1.3 percent;
- Transport; -6.8 percent;
- Recreation and culture, 2.7 percent; and
- Restaurant and miscellaneous goods and services, 4.1 percent.
The indices of the rest of the commodity groups such as furnishing, household equipment and routine maintenance of the house, health, communication, education retained their previous month’s annual growth rates.
On the other hand, higher mark-ups of 2.8 percent and 14.4 percent were observed in the indices of food and non-alcoholic beverages including alcoholic beverages and tobacco.